case study

This case study highlights AlgoMedica, a Silicon Valley company that has developed a deep learning algorithm called PixelShine for improving the image quality of CT lung cancer screening exams.

As a startup company, AlgoMedica had limited access to many of the resources needed to compete with larger multinational companies in the medical imaging space. During our engagement, Healthcare Service Consultants was able to quickly grow the company’s profile in several ways:

• Guide its participation at industry trade shows, enabling it to start to build a sales funnel
• Create and refine sales and marketing collateral materials, including pitch decks and website content
• Start its email and social media marketing campaigns on LinkedIn and Twitter

The emergence of CT lung cancer screening in the last decade means that many high-risk people such as current and former smokers are now eligible to receive these live-saving scans. Imaging facilities across the U.S. are now able to offer CT lung screening as a new service that enhances preventive care.

With CT imaging, there is typically a direct relationship between image quality and the amount of radiation used in a scan. Noisy images can mask anatomy and pathology, making it harder for radiologists to detect subtle changes such as lung nodules that can be an early sign of developing cancer. But as screening protocols typically involve multiple scans over an individual’s lifetime, it’s also important to keep radiation dose levels low.

AlgoMedica has developed PixelShine, a proprietary software application that enables high-quality CT images to be produced even from scans acquired at low radiation dose. The solution leverages the emerging field of deep learning to clear up the picture in CT lung screening, reducing noise in blurry images and improving patient care.

AlgoMedica’s most pressing needs included:

• Help with building a funnel of sales leads that would lead to revenue growth
• Assistance communicating the value proposition of the company’s PixelShine software
• Building awareness of the company with other firms, helping to lay the groundwork for partnerships with other OEMs

2.1 Large, well-funded competitors

There are some 13 million people in the U.S. who are eligible for CT lung cancer screening, making this a large addressable market. But the medical imaging industry is dominated by large well-funded multinational companies like GE, Siemens, Philips, and Canon, which creates challenges for smaller companies like AlgoMedica. Our client needed a marketing solution to help them compete with the big boys in their core market.

2.2 Startup environment

AlgoMedica was still a small start-up when we began working with them, with all of their energy focused on product development rather than marketing. Only one individual at the company was dedicated to sales

2.3 Lack of market awareness.

As a small early-stage company, few radiologists were aware of the company’s offerings, and the company had few paying customers. It did have some beta site users but had not effectively leveraged these sites to generate market awareness.

2.4 Challenges presented by the COVID-19 pandemic.

AlgoMedica’s initiatives were complicated by the onset of the COVID-19 pandemic, which led to a complete shutdown of trade shows for over a year. This made it more difficult for the company to use traditional vehicles to get its message out.

3.1 Develop a strategy.

Our first goal with AlgoMedica was to develop an overarching strategy for positioning the company and PixelShine in the overall radiology space. We helped them set up and leverage their beta sites to publish and share their experiences with the software and provide references and testimonials to potential new customers.

3.2 Improve quality of sales collateral materials.

When our engagement with AlgoMedica began, the company lacked high-quality sales and marketing collateral materials. We helped the company develop pitch decks, as well as build out website content and issue press releases. These steps helped immeasurably in raising AlgoMedica’s public profile.

3.3 Build a sales funnel.

HSC also helped AlgoMedica generate a sales funnel through activities such as attending trade shows. Such conferences are an invaluable opportunity to meet potential clients and communicate the benefits of the company’s technology to them.

3.4 Engage with social media.

HSC got AlgoMedica rolling in social media, starting them off with email and social media marketing on LinkedIn and Twitter. We also integrated their social media presence with other public relations activities, such as press releases.

3.5 Develop new options during the COVID lockdown.

The lockdowns caused by the COVID-19 pandemic shut down traditional avenues of marketing such as in-person trade shows and site visits. We helped AlgoMedica manage this new environment through activities such as participating in virtual trade shows and webinars.

3.6 Establish thought leadership.

In order to position AlgoMedica as a thought leader in the industry, HSC created white papers for the company that were effective in establishing the company and its executives as key opinion leaders (KOLs). These also served to communicate the value proposition of the company’s PixelShine software for clearing up noisy CT images.

Our firm also developed case studies that served as templates for other providers in how they can leverage AlgoMedica’s technology to improve their operations – and patient care.

.

Thanks to our engagement, AlgoMedica saw a sustained increase in its profile in the medical imaging industry, and in market penetration for its PixelShine software. The company was able to sign up additional partners, as well as grow the network of dealers selling its products.

Our activities enabled AlgoMedica to punch above its weight in a market dominated by larger firms, grow its funnel of leads, sign new dealers and beta sites, and cement relationships with large OEMs.

Contact us if you feel your company could also benefit from improved positioning and a strategic marketing approach.